SIME Darby Bhd and Aussie-based Ramsay Well being Care Ltd (Ramsay) have bought their healthcare enterprise to Asia Healthcare Sdn Bhd for RM5.7 billion in money.
In an trade submitting yesterday (Nov 10), Sime Darby mentioned its wholly-owned subsidiary, Sime Darby Holdings Bhd (SDHB), has entered right into a sale and buy settlement (SPA) with Columbia Asia for the disposal of its curiosity in Ramsay Sime Darby Well being Care Sdn Bhd (RSDH).
It mentioned the transfer marks its exit from the healthcare enterprise, permitting it to unlock the latent worth of its healthcare belongings, beforehand deemed non-core, producing a acquire on disposal of RM2 billion.
RSDH, a 50:50 three way partnership between Sime Darby and Ramsay, was earlier recognized for potential sale, as communicated by Sime Darby on June 28. SDHB’s unique value of funding within the 50% fairness, made in June 2013, was RM594.6 million.
“Whereas the hospital enterprise is a superb asset, we’ve at all times maintained our concentrate on our core buying and selling companies of Motors and Industrial. The supply from Columbia Asia was one we couldn’t refuse, ” mentioned Sime Darby group CEO Datuk Jeffri Salim Davidson.
On Aug 24, Sime Darby introduced plans to accumulate a 61.2% stake in UMW — who’s top-selling manufacturers are Perodua and Toyota – for RM3.57 billion in money.
Columbia Asia, a global non-public healthcare firm primarily based in Malaysia and a wholly-owned subsidiary of Columbia Asia Healthcare Pte Ltd, will spearhead this acquisition.
CAHSG, primarily owned by HLT Healthcare Holdings Ltd, a three way partnership between the Hong Leong Group and One Well being Holdings (OHH), managed by TPG-managed funds, will facilitate the funding within the transaction together with varied co-investors by way of OHH.
The transaction may also see vital capital infusion from the Staff Provident Fund of Malaysia and a wholly-owned subsidiary of the Abu Dhabi Funding Authority, the assertion added.
Following the completion of the deal, TPG and the Hong Leong Group, together with different co-investors by OHH, will collectively maintain a considerable 25% shareholding in OHH. Columbia Asia and its subsidiaries, boasting 22 medical amenities throughout Asia, together with 14 in Malaysia, will fortify their presence within the area. — TMR